AG King: Robo-Signing Will Be Stopped in New Mexico...New Mexico ...

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AG King: Robo-Signing Will Be Stopped in New Mexico...New Mexico Joins Mortgage Foreclosure Multistate Group
Wednesday, October 13, 2010 Attorney General Gary King announced today that he is joining a 50-state bipartisan mortgage foreclosure working group to investigate the practice of "robo-signing" within the mortgage servicing industry. Full Article

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(ALBUQUERQUE)---Attorney General Gary King announced today that he is joining a 50-state bipartisan mortgage foreclosure working group to investigate the practice of "robo-signing" within the mortgage servicing industry. AG King said, "New Mexicans' homes and our economy could be affected by the practice of 'robo-signing.' The cooperative joint investigation will allow the states to pool their resources and experience to insure that homeowners and lenders are treated fairly

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AG King: Robo-Signing Will Be Stopped in New Mexico...New Mexico ...

http://www.nmag.gov/Articles/newsArticle.aspx?ArticleID=1073

by a thorough investigation." State attorneys general, and state banking and mortgage regulators in 28 states will investigate to determine whether individual mortgage service providers have improperly submitted documents in support of foreclosures. Specifically, the Mortgage Foreclosure Multistate Group (MFMG) will investigate whether companies misrepresented on affidavits and other documents that they reviewed and verified supporting foreclosure documentation. The MFMG will determine whether companies also signed affidavits without the presence of a notary public as well as investigating other possible issues regarding servicing irregularities or abuses. Through an executive committee, the MFMG will contact a comprehensive list of individual mortgage service providers. Initial objectives of the MFMG include:
1. Put an immediate stop to improper mortgage foreclosure

practices; 2. Review past and present practices by mortgage servicers subject to the inquiry; 3. Evaluate potential remedies both for past practices and to deter future improper practices; and 4. Establish a mechanism for more effective independent monitoring of future mortgage foreclosure practices. The multistate group will consult with federal regulators and agencies including the Mortgage Fraud Working Group of the Financial Fraud Enforcement Task Force.

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JOINT STATEMENT OF THE MORTGAGE FORECLOSURE MULTISTATE GROUP IS ATTACHED Attachments

Title final attachment Description joint statement

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